Logitech Q1 Profit Tops View; Confirms FY Outlook

(RTTNews) - Logitech International (LOGI) reported that its net income for the first-quarter of fiscal year 2022 climbed to $186.84 million or $1.09 per share from $72.07 million or $0.42 per share last year.

Quarterly non-GAAP earnings per share grew 91 percent to $1.22 from $0.64 in the same quarter a year ago. Analysts polled by Thomson Reuters expected the company to report earnings of $0.87 per share for the first-quarter. Analysts' estimates typically exclude special items.

Sales for the first-quarter were $1.31 billion, up 66 percent in US dollars and 58 percent in constant currency, compared to the prior year. Analysts expected revenues of $1.06 billion for the first-quarter.

Logitech confirmed its fiscal Year 2022 outlook of flat sales growth in constant currency, plus or minus five percent, and $800 million to $850 million in non-GAAP operating income.